Extending the Deadline for Submitting Financial Statements up to 90 Days from January 1, 2020

19:12, 09/07/2024

The Ministry of Finance has just issued Circular 79/2019/TT-BTC providing guidance on the Accounting Regime applicable to project management boards using public investment capital.

The reporting period and deadlines for the financial statements (FS) of investment units within administrative career units have been changed as follows:

- Units must prepare financial statements at the end of the fiscal year as prescribed by the Accounting Law (as stipulated in Circular 195/2012/TT-BTC, FS must be prepared at the end of each quarter and the end of the fiscal year);

- The annual financial statements of units must be submitted to competent state agencies (detailed in Annex 05 – Financial Statements System attached to Circular 79) or superior units within 90 days (as stipulated in Circular 195, this period is 30 days) from the end of the fiscal year.

- Units are not required to prepare the "Supplementary Financial Information Report" (form number B01/BSTT) as stipulated in Circular 99/2018/TT-BTC.

For detailed changes in the forms, please refer to Circular 79/2019/TT-BTC, effective from January 01, 2020.

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